Banco Santander is scheduled to report results for the second quarter on Wednesday. Here is what you need to know.

REVENUE FORECAST: The Spanish lender is expected to report second-quarter total income--its top-line figure--of 15.70 billion euros ($17.92 billion), according to consensus estimates compiled by Visible Alpha. For the same period last year, Santander reported total income of 14.50 billion euros.

NET PROFIT FORECAST: Analysts expect Santander to make a net profit of 3.53 billion euros for the second quarter, according to the same consensus. This would represent an increase from the profit of 3.43 billion euros it posted for the same period last year.

Shares in Santander--the eurozone's biggest bank by market capitalization--gained 27% during the second quarter, making up for losses in the first quarter. The stock climbed nearly 17% since the start of the year through Monday's close.

WHAT TO WATCH

--SAVINGS: Santander earlier this year unveiled a target to achieve a net profit of more than 20 billion euros in 2028, up from 14.1 billion euros last year, driven by revenue growth and cost savings. The bank has been working on a plan to cut jobs in Spain and last week reached an agreement with unions on an early-retirement program. Even if guidance is likely to be reiterated, investors will be interested in Santander's comments about redundancy plans in Spain, as well as on its outlook in the U.K. and Brazil, analysts at Keefe, Bruyette & Woods wrote in a research note. The bank has room for additional cost savings by 2028 as benefits from recent acquisitions--Webster Financial in the U.S. and TSB in the U.K.--and initiatives for its existing operations are achieved, Bank of America analysts said.

--BRAZIL: Several analysts said Santander's Brazilian unit has been on investors' radar after the Middle East conflict prompted the country's central bank to take an approach to cutting interest rates that was more cautious than economists expected. Brazil, which is due to hold a presidential election later this year, is Santander's biggest market and accounted for roughly one fifth of the group's underlying revenue last year. Slower-than-expected rate cuts in Brazil have negative implications for the pace at which Santander's lending volumes can regain momentum, margins expand and cost of risk decline, analysts at UBS said.

Write to Adria Calatayud at adria.calatayud@wsj.com

(END) Dow Jones Newswires

July 21, 2026 05:14 ET (09:14 GMT)

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